基于公司治理理论的公司多元化折价研究

[31] Lamont O,”Cash flow and investment :Evidence from internal capital

markets”,Journal of Finance , 1997 ,52,pp83~109.

[32] LAMONTO,”Cash flow and investment: evidence from internal cap ital

markets “,Journal of Finance, 1997, 52 (1),pp83 - 109.

[33] Lewellen , W1 , (1971),”A Pure Financial Rationale for the Conglomerate

Merger”,Journal of Finance 26,pp521 – 5371.

[34] Lins ,K,H Servaes,”Is corporate diversification beneficial in emerging

markets?”, Financial Management ,2002 ,31 (2),pp5- 31.

[35] Loughran , T1 , Vijh , A1M1 , (1997),” Do Long2term Shareholders Benefit

from Corporate Acquisitions”,Journal of Finance 52 ,pp1765 – 1790.

[36] Maksimovic , V1 , Philips , G1 , (2000),”Optimal Firm Size and the Growth

of Conglomerate and Single industry Firms”,Working Paper , University of Maryland.

[37] Martin ,J D ,Sayrak ,A,”Corporate diversification and shareholder value :a

survey of recent literature”,Journal of Corporate Finance ,2003 ,9 (1),pp37 – 571.

[38] Martin D , Sayrak A,”Corporate Diversification and ShareholderValue:A

Survey of Recent Literature”,Journal of Corporate Finance, 2003 (9),pp37 – 57.

[39] Mat susaka ,J ,Nanda ,V,”Internal capital market s and corporate

refocusing”,The Journal of Financial Intermediation ,2002 ,11 (2),pp176 - 211.of Economics , 1998 ,113,pp531~552.

[40] Ozabas ,Oguzhan,”Intergration ,organization processes and allocation of

resources”,University of Sout hern California ,Working Paper ,2003,pp1 - 45.

[41] Ozbas ,Oguzhan,”Integration ,organzation processes and allocation of

resources”,Journal of Financial Economics 2005 , 75,pp201~242.

[42] OZBAS F, OGUZHAN A,”In tegration, organ ization processes and

allocation of resources”,Journal of Financial Economics, 2005, 75 (1),pp201 - 242.

[43] Rajan R , Servaes H , Zingales L,”The cost of diversity:The diversiOf

ication discount and inefficient investment”,Journal of Finance ,2000 , 55,pp35~80.

[44] RAJAN R, SERVAES H, ZINGALES L,”The cost of diversity: the

diversification discount and inefficient investment”,Journal of Finance, 2000, 55 ( 1),pp35- 80.

[45] Rau , P1R1 , Vermaelen , T1 , (1998) , Glamour,”Value and the Post

acquisition Performance of Acquiring Firms”,Journal of Financial Economics 48,pp223 – 253.

[46] Scharf stein D S , Stein J,”The dark side of internal capital market

s :Divisional rent seeking and inefficient investment”,Journal of Finance ,2000 , 55 :25,pp37~2564.

[47] SCHARFSTEIN D S, STEIN J,”The dark side of internal

capitalmarkets:divisional rent seeking and inefficient investment”,Journal of

28

Finance, 2000, 55 (6)2,pp537 - 2 564.

[48] SH IN H H, STULZ R M,”Are internal cap ital markets efficient”,The

Quarterly Journal of Economics,1998, 113 (2),pp531 - 552.

[49] Shin HOH , Stulz R M,”Are internal capital market s efficient”,The

Quarterly Journal

[50] Shleifer A, Robert V,”Managerial Entrenchment-the Case of Manager

Specific Investments”,Journal of Financial Economics, 1989 (25),pp123 - 139.

[51] Stein ,J eremy C ”Internal capital markets and the competition for corporate

resources”,Journal of Finance ,1997 ,52 (1). [52] Stein,J eremy C1 Agency,”information and corporate

investment”,NBER ,Working Paper, No 8342 ,2001.

[53] Villalonga , B1 , (2003),”Diversification Discount or Premium ? New

Evidence from BITS Establishment level Data”, Journal of Finance ,Forthcoming.

29

联系客服:779662525#qq.com(#替换为@)